LATEST FINANCIAL NEWS

Company confirmation statement changes

As well as filing accounts with Companies House, there is an important requirement to check that the information Companies House has about your company is correct every year. This is facilitated by...

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Still time to register for the Marriage Allowance

There is still time to register for the marriage allowance before the current tax year ends on 5 April 2024. The marriage allowance applies to married couples and those in a civil partnership where a...

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Tax on savings interest

If you have taxable income of less than £17,570 in 2023-24 you will have no tax to pay on interest received. This figure is calculated by adding the £5,000 starting rate limit for savings (where 0% of...

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Register of Overseas Entities

The Register of Overseas Entities came into force in the UK on 1 August 2022. The register is held by Companies House and requires overseas entities that own land or property in the UK to declare...

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Changing a company’s accounting year end

There are special rules which limit the ability to change your company’s accounting year end date. A company’s year end date is also known as its ‘accounting reference date’ and is historically set by...

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Eligibility for replacement of domestic items relief

The replacement of domestic items relief enables landlords to claim tax relief when they replace movable furniture, furnishings, household appliances and kitchenware in a rental property. The...

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Tax Diary April/May 2024

1 April 2024 - Due date for corporation tax due for the year ended 30 June 2023. 19 April 2024 - PAYE and NIC deductions due for month ended 5 April 2024. (If you pay your tax electronically the due...

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Public sector productivity

In a recent announcement by the Treasury, it was announced that plans are afoot to deliver up to £1.8bn of productivity benefits by 2029. The aim is to improve public sector productivity, including...

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Tech companies assist with fuel price transparency

Leaders from top comparison sites, RAC and The AA will be among those meeting the Energy Affordability Minister to help share new fuel price data and keep costs down for motorists. Price comparison...

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Spring Budget 2024 – NIC changes

As had been widely expected, the Chancellor announced further changes to National Insurance contributions (NIC) rates for employees and the self-employed. There will be a further 2% cut in the main...

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Spring Budget 2024 - VAT registration threshold changes

The taxable turnover threshold that determines whether businesses should be registered for VAT will increase from £85,000 to £90,000 from 1 April 2024. The taxable turnover threshold that determines...

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Spring Budget 2024 – High Income Child Benefit Charge

The High Income Child Benefit Charge (HICBC) came into force January 2013 and has applied to taxpayers whose income exceeds £50,000 in a tax year and who are in receipt of child benefit. It was...

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